68,600 Shares in Apple Inc. (NASDAQ:AAPL) Bought by Point72 Europe London LLP

Point72 Europe London LLP bought a new stake in Apple Inc. (NASDAQ:AAPL) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 68,600 shares of the iPhone maker’s stock, valued at approximately $14,449,000. Apple comprises approximately 1.2% of Point72 Europe London LLP’s investment portfolio, making the stock its 29th biggest position.

A number of other hedge funds have also recently made changes to their positions in the company. Granite Investment Partners LLC raised its position in shares of Apple by 2.7% during the second quarter. Granite Investment Partners LLC now owns 289,421 shares of the iPhone maker’s stock worth $60,958,000 after acquiring an additional 7,606 shares during the last quarter. Bellwether Advisors LLC boosted its stake in shares of Apple by 387.3% in the 2nd quarter. Bellwether Advisors LLC now owns 24,349 shares of the iPhone maker’s stock valued at $5,128,000 after purchasing an additional 19,352 shares during the last quarter. Gentry Private Wealth LLC acquired a new stake in shares of Apple during the second quarter worth $876,000. Independent Advisor Alliance raised its stake in Apple by 0.9% during the second quarter. Independent Advisor Alliance now owns 920,737 shares of the iPhone maker’s stock worth $193,926,000 after buying an additional 8,028 shares during the last quarter. Finally, WT Asset Management Ltd acquired a new position in Apple in the second quarter valued at $80,057,000. 60.41% of the stock is owned by institutional investors and hedge funds.

Apple Stock Performance

NASDAQ AAPL opened at $224.23 on Wednesday. Apple Inc. has a 12-month low of $164.07 and a 12-month high of $237.49. The firm has a market cap of $3.39 trillion, a P/E ratio of 36.88, a price-to-earnings-growth ratio of 2.22 and a beta of 1.24. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.51. The company’s 50 day moving average is $226.72 and its 200-day moving average is $215.06.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, October 31st. The iPhone maker reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The firm had revenue of $94.93 billion for the quarter, compared to the consensus estimate of $94.52 billion. Apple had a net margin of 23.97% and a return on equity of 152.94%. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.46 earnings per share. Sell-side analysts predict that Apple Inc. will post 7.43 earnings per share for the current year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 11th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, November 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.45%. Apple’s dividend payout ratio (DPR) is presently 16.45%.

Insider Transactions at Apple

In other Apple news, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the sale, the chief executive officer now directly owns 3,280,180 shares in the company, valued at $736,269,202.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Apple news, CEO Timothy D. Cook sold 223,986 shares of Apple stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $224.46, for a total transaction of $50,275,897.56. Following the completion of the sale, the chief executive officer now owns 3,280,180 shares of the company’s stock, valued at $736,269,202.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Chris Kondo sold 8,706 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $225.00, for a total value of $1,958,850.00. Following the transaction, the insider now directly owns 15,419 shares in the company, valued at approximately $3,469,275. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 412,746 shares of company stock valued at $93,021,362. 0.06% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. New Street Research reissued a “neutral” rating and issued a $225.00 price objective on shares of Apple in a research report on Wednesday, September 25th. Jefferies Financial Group lowered Apple from a “buy” rating to a “hold” rating and boosted their price target for the company from $205.00 to $212.92 in a research note on Monday, October 7th. Raymond James lifted their price objective on shares of Apple from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. UBS Group increased their target price on shares of Apple to $236.00 and gave the stock a “hold” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $265.00 price target on shares of Apple in a research note on Tuesday, September 10th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $235.51.

Apple Company Profile

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.